Written by : Jayati Dubey
December 27, 2023
While Lupin awaits approval from the Canadian authorities, the transaction is set to be completed in cash, consolidating the company's position as a key player in the global pharmaceutical landscape.
Mumbai-based pharmaceutical giant Lupin has unveiled plans to acquire two renowned brands from French pharmaceutical company Sanofi Pharmaceuticals, marking a strategic move to broaden its market presence, particularly in Europe and Canada.
The acquisition, expected to be completed in the first quarter of 2024, is valued at INR 910 million or INR 91 Cr (approximately EUR 10 million), with an additional contingent amount of up to INR 72.8 Cr based on future sales milestones.
Lupin Atlantis Holdings SA Switzerland (LAHSA), a wholly-owned subsidiary of Lupin, is set to acquire the portfolio, including the brands AARANE™ in Germany and NALCROM™ in Canada and the Netherlands.
According to the disclosure filed on the Bombay Stock Exchange (BSE), the revenue generated from these products in the relevant markets during FY23 amounted to $6.494 million (INR 53.7 Cr). Lupin aims to introduce these established assets in the respiratory field, contributing to the development of its new respiratory franchise in Europe and Canada.
The move follows Lupin's recent successes, including the launch of LUFORBEC™ in Germany, the introduction of Gx SPIRIVA™, and the acquisition of XOPENEX™ and BROVANA™ in the United States. However, the completion of the deal hinges on approval from Canada's Foreign Direct Investment Bureau.
While Lupin awaits approval from the Canadian authorities, the transaction is set to be completed in cash, consolidating the company's position as a key player in the global pharmaceutical landscape.
Lupin, an innovation-driven multinational pharmaceutical company headquartered in Mumbai, India, operates in over 100 markets worldwide, including the US, India, South Africa, Asia Pacific (APAC), Latin America (LATAM), Europe, and the Middle East. The company is known for developing and commercialising a wide range of branded and generic formulations, biotechnology products, and APIs.
In the fiscal year 2023, Lupin invested 7.9% of its revenue in research and development, showcasing its commitment to innovation and advancements in the pharmaceutical sector.
In a parallel development in October, Lupin introduced Humrahi, a patient support program focusing on diabetes management. This program underscores Lupin's dedication to providing comprehensive healthcare solutions, with a focus on patient adherence, behavioural support, and overall transformation in diabetes management.
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